Published September 3, 2008

Up to $12,000 up for grabs in online stock contest

By RACHEL SIM

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CITIBANK Ready Credit and The Business Times have teamed up to launch an online stock trading competition.

The Business Times-Citibank Ready Credit Online Stock Challenge begins on Monday and will run for four weeks to Oct 3.

Participants will be given a start-up capital of $100,000 each in virtual cash to invest in stocks listed on Singapore Exchange (SGX). Stock prices in the contest will mirror the real-time stock prices, supported by live feeds from SGX. The aim of the challenge is to create an environment for the public to test their investing skills and increase the awareness of the ease of investing online.

Prizes will be awarded to those who are able to generate the largest profits from trading stocks in the simulated trading environment.

Players will compete for the top three grand prizes of $5,000, $3,000 and $2,000 by achieving the largest portfolio at the end of the challenge. A weekly prize of $500 will go to the player who makes the biggest improvement in his or her investment.

'The Online Stock Challenge is a simulation trading contest that lets investors, whether experienced or novice, test their investment and analytical skills without the risk of real financial loss - all with real-time information and real SGX stocks,' said Jacquelyn Tan, head of Ready Credit at Citibank Singapore. 'The challenge will educate the public on trading stocks, while having fun. It will also introduce to them the ease of investing online.'

Participants must be at least 21 years of age. They can join the contest at any point of time before Sept 22. Those who sign up before Sept 8 will have an extra $5,000 in virtual cash.

Players can introduce up to five friends to join the contest to gain an extra $1,000 in virtual cash for each sign-up. For more details, visit http://rcchallenge.businesstimes.com.sg